Publication: Monitor Volume: 3 Issue: 131

Duma deputies are rallying to halt the latest example of "insider privatization." The former state monopoly insurance company, Gosstrakh, which has annual sales of $500 million, is in the process of privatization. Twenty percent of its shares have already been sold to its employees for 2.13 billion rubles, and another 30 percent have been earmarked for distribution by a firm consisting of 9 top managers of the company, who paid 3 billion rubles for the shares. The remaining 50 percent of stock is to be sold for 300 billion rubles — a price 80 times higher than what the managers are paying. The plan to sell to managers is now on hold as result of a critical report from the Accounting Chamber. Vladislav Reznik, company chairman, has said he will file suit to preserve the original plan (Finansovie izvestia, 3 July)

Moscow Bomb Threat by Lenin Supporters.